Economic Inequality in American Part 8 – What the 2008 Meltdown Shows Us About Economic Inequality
Summary: Reading Time: 2 minutesMost Americans are unaware of how close the American and global economies came to complete collapse in 2008. Recognizing what nearly occurred in 2008, if we are paying attention, should demonstrate with authority the links between financial crisis and inequality.<br> <br> This episode continues where the last episode left off. We look at the rising levels of debt and speculation within the economy that was a byproduct of the growing inequality in the American system. Then we look specifically at how the 2008 Economic Crisis came about, one step at a time.<br> The economic crisis of 2008 might have been the reset within the American system needed to resolve the extensive imbalances of inequality. This would have made it much like the Great Depression was in the 1930s. The government was stuck. If they had allowed the crisis to play out on its own, America and the global economy might not have survived. On the other hand, by getting involved and bailing out the finance sectors during the 2008 economic crisis, corruption and inequality were incentivized. As a result, since the 2008 crisis, inequality has only gotten worse.<br> The Financial Crisis and Inequality – The Obama Years<br> <br> * The gains since (2008) have accrued overwhelmingly to the wealthiest Americans. The top 1% gained 93% of the additional income created in the country in 2010 compared to 2009.<br> * The income gap between rich and poor people grew to the widest in more than 40 years in 2011 as the poverty rate remained at almost a two-decade high.<br> <br> <br> <a href="http://feeds.feedburner.com/~r/theendofhistory/PHVq/~6/1" target="_blank" rel="noopener"></a><br> <a href="https://feedburner.google.com/fb/a/headlineanimator/install?id=nb64uri41haerm5fvtnnavfgjo&w=1" target="_blank" rel="noopener">↑ Grab this Headline Animator</a><br> This podcast episode is part 8 in the series on Economic Inequality in America. This episode wraps up the history portion of the story with a look at the relationship between the financial crisis and inequality in America. One thing led to another and since then the cycle has only continued.<br> This is part of my <a href="https://wp.me/p2iDfo-1su">Complete Guide to Understanding Inequality in America</a>. Check it out for more podcast episodes, infographics and articles and on this topic. Check out all of my<a href="http://www.theendofhistory.net/essential-guides-to-gain-a-better-understanding-of-the-world/"> expert topic guides</a> on other topics as well. <br>
